Vladimir Putin to stand for re-election as Russian president

It would be Putin's fourth term if he wins.

Russian President Putin greets the audience at the congress of volunteers in MoscowREUTERS/Sergei Karpukhin

Vladimir Putin has declared his intention to run for a fourth term as president of Russia.

Elections will be taking place next year in Russia and victory would see him lead until 2024.

Putin issued a statement while meeting workers at the GAZ factory in Nizny Novgorod, where he confirmed his plans to run for the election on the 18 March 2018.

Opinion polls place him at around 80% meaning victory is all but guaranteed.

At the factory, he said that there wasn't a better moment to announce his plans.

In Russia there are no term limits for leaders, however presidents can only stand for two consecutive terms.

Putin was president for two terms between 2000 and 2008, before paving way for his current prime minister Dimitry Medvedev who ruled for four years with Putin as PM.

Then in 2012 the pair swapped back titles, allowing Putin to start a second period of two consecutive terms as president.

The Russian television journalist Ksenia Sobchak has confirmed she will stand for election as well, while the main opposition leader, Alexei Navalny, is currently barred from standing after he was found guilty of embezzlement, a charge he claims was politically motivated.